Examlex
The site on the figure below that would most likely form a rock with large crystals is
Substitution Effect
The change in consumption that results from a change in the relative price of goods, leading consumers to substitute away from higher-priced goods.
Income Effect
The income effect describes the change in an individual's or economy's income and how that change will affect the quantity demanded of a good or service.
Normal Good
A type of good for which demand increases as the income of the consumer increases, holding all else constant.
Wealth Effect
The change in spending and consumption patterns by individuals or households due to changes in their real or perceived wealth.
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